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September 2019

09/09/2019

One category of brands seems to be exploding non-stop: hotel brands. According to The New York Times, hotel brands add brands at a blistering pace to differentiate their offerings and appeal to different audiences. As of June 2018, reports hotel research firm STR, there were 180 hotel chains with more than five U.S. properties.

Major hotel chains have brands across many segments, from budget to luxury. For example, Hilton and Hyatt each offer 17 brands. Marriott now has 30 brands after its acquisition of Starwood hotels in 2016. Some of Marriott's brands actually compete with one another, but they've retained them all. “We were able to push these brands apart and continue to provide varied experiences,” says Tina Edmondson, Marriott's global brand officer. Phil Cordell, Hilton's global head of brand development, warns, “If brands get too focused on a specific segment, that’s where things can run off the rails in the longer term...“The more you have, the more you have to be incredibly disciplined in ensuring that difference is there. Bigger isn’t always better.”

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09/03/2019

Marketing innovation is proceeding at a blistering pace, particularly when it comes to digital marketing. This requires marketers to keep up with modern demands. Consulting firm McKinsey shares six "governing considerations to modernize marketing" that could help organizations' marketing function excel:

How to centralize guidance and oversight

How to bring together marketing and IT (heart and brain)

How to build collaboration and agility

How to reinvent HR to meet talent demands

How to build flexibility into resource planning

How to make cultural change a continuous task.

According to McKinsey, "Modernizing marketing is a process that relies on multiple factors for success. Only by understanding what these are and by focusing on how to address them can marketers hope to get real value from digital."

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